Monday, September 10, 2012

Filing Requirements for Most Taxpayers


2011 Filing Requirements

You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements as given below. However, if you are self employed or independent contractor, you must file tax return if your self employed income is $400 or more.


1. Filing Status Single

If under 65, must file tax return if gross income is at least $9,500.

If 65 or older, must file tax return if gross income is at least $10,950.


2. Filing Status Married Filing Jointly

If under 65 (both spouses), must file tax return if gross income is at least $19,000.

If 65 or older (one spouse), must file tax return if gross income is at least $20,150.

If 65 or older (both spouses), must file tax return if gross income is at least $21,300.

(Read Filing Status: Married Filing Jointly)


3. Filing Status Married Filing Separately

Any age, must file tax return if gross income is at least $3,700.

(Read Filing Status: Married Filing Separately)


4. Filing Status Head of Household

If under 65, must file tax return if gross income is at least $12,200.

If 65 or older, must file tax return if gross income is at least $13,650.

(Read More: Head of Household)


5. Filing Status Qualifying Widow(er) with Dependent Child

If under 65, must file tax return if gross income is at least $15,300.

If 65 or older, must file tax return if gross income is at least $16,450.


Standard Deduction

For the 2011 tax return, the standard deduction amounts are,

*Single (other than head of household and Surviving Spouses) $5,800

*Married Filing Joint Returns and Surviving Spouses $11,600

*Married Filing Separate Returns $5,800

*Head of Households $8,500


The 2011 Exemption Deduction for each exemption is $3,700

If you are a dependent, read: Filing Requirements of a Dependent

For more information read IRS Publication 501 (2008), Exemptions, Standard Deduction, and Filing Information

More Articles:Your Filing Status

1. Filing Status for Married

2. Head of Household

Exemptions for Dependents

1. Requirements for claiming a dependent

2. Child of separated or divorced parents

Filing Requirements

1. Filing Requirement for a Dependent

2. 2009 Filing Requirements

Your Income

1. W2 vs 1099-Misc: Employee vs Independent Contractor

2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor

3. Partnerships

4. Filing W4 Employee’s Withholding Allowance Certificate

5. Missing W2, 1099-Misc, 1099-R, 1099-Int

6. My Tax Refund?

Your Foreign Income

1. U.S. Citizen or Resident with Foreign Income

2. Foreign Bank and Financial Accounts

Income Exemptions and Deductions

1. Moving Expenses

2. Itemized deductions

3. Student Loan Interest Deductions

Income Adjustment

1. Traditional IRA and Roth IRA

2. Elective Deferrals 401(k) Plans

U.S. Gift tax and Inheritance Tax

1. The U.S. Gift Tax

2. Tax on Inheritances

Sale of Your Home

1. Profit from the Sale of Your Home

2. Foreclosure or Repossession of Main Home

3. First-Time Homebuyer Credit

State Tax

1. Working in Two or More States

What's New for 2009

What's New for 2009



Tax for Nonresidents and Foreign Aliens

1. U.S. Tax Filing Requirements for Non-Residents

2. Substantial Presence Test

3. Social Security and Medicare (FICA) Taxes for Non-resident Exempt Individual

4. U.S. Tax Treaties for Professors, Teachers and Researchers

5. U.S. Tax Treaties for Students and Apprentices

6. The U.S. VisasComplete List of Articles



OctroTalk - For iPhone and iPad, Nokia S60 3rd., Window Mobile Smartphone and Pocket PC and Windows Desktop. OctroTalk has instant messaging, P2P file transfer, VoIP, SIP calling, live video chat and video conference. OctroTalk supports Google Talk (GMail) audio and Video calls. Free Download http://www.octro.com/

http://taxipay.blogspot.com/

No comments:

Post a Comment